Wynn Resorts Limited (WYNN)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	4,185,280	1,729,540	1,840,110	203,704	4,557,850
Revenue	US$ in thousands	6,041,540	3,310,710	3,369,780	1,656,560	6,181,400
Gross profit margin		69.28%	52.24%	54.61%	12.30%	73.73%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $4,185,280K ÷ $6,041,540K
= 69.28%

The gross profit margin of Wynn Resorts Ltd. has fluctuated over the past five years, as evidenced by the data provided. In 2023, the gross profit margin improved to 43.28%, marking a significant increase from the prior year. This indicates that the company was able to generate more revenue in excess of direct costs associated with production or service delivery. The upward trend in the gross profit margin from 2020 to 2023 suggests enhanced efficiency in operations and pricing strategies. However, it is noteworthy that the gross profit margin experienced a sharp decline in 2020, which may be attributed to various external factors, such as the impact of the global pandemic on the hospitality and entertainment industry. Overall, the recent improvement in the gross profit margin reflects positively on the company's ability to effectively manage costs and enhance profitability.